Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
487.6M
as of Jun 28, 2025.
We will project this out 5 years with a yearly growth
rate of
10.4%.
Starting with 487.6M and growing at 10.4%
for 5 years, we estimate Free Cash Flow will be
799.67M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 78M.
We will project this out 5 year(s) with a growth rate
of -1.46%.
Estimated Diluted Shares Outstanding: 72.47M.
Step 3: Project Future Stock Price
Using a price ratio of 4.58, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(799.67M ÷ 72.47M) × 4.58 =
$50
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.69.
Projected over 5 years with a growth rate of
9.27%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.546517233314642.
Step 5: Discount the Projected Stock Price
Projected stock price: $50.
Including dividends, total future value: $60.55.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
